New Platform Bridges Fiat and Stablecoins

UQPAY holds a Major Payment Institution license from the Monetary Authority of Singapore (MAS), placing it under direct regulatory oversight. The company, founded by CEO Jack Li (also identified as Li Wangjian), has been building out its capabilities in cross-border payments since at least 2018, with a focus on blockchain applications. The new platform aims to solve inefficiencies in traditional global B2B payments, such as slow settlement times (2–5 business days) and high fees associated with networks like SWIFT. By integrating stablecoins, transactions can be settled in minutes, 24/7, directly on a blockchain, bypassing intermediary banks. The initiative taps into a period of explosive growth for stablecoin use in business. B2B stablecoin payment volumes surged from under $100 million per month in early 2023 to over $6 billion by mid-2025. Annualized stablecoin payments reached $390 billion as of December 2025, with B2B transactions accounting for the majority at $226 billion. Asia, particularly Singapore and Hong Kong, is the dominant region for this activity, representing about 60% of global stablecoin payment volumes. UQPAY's platform is designed for high-growth, cross-border sectors like e-commerce, SaaS, gaming, and travel, which are driving this adoption. The move places UQPAY in a competitive landscape with other fintech firms bridging traditional finance and crypto. Competitors range from crypto-native payment gateways like Triple A and BVNK to established players like Stripe, which has also enabled USDC payments. The platform supports leading stablecoins such as USDC and USDT, which offer different advantages. USDC, issued by the regulated U.S. company Circle, is known for its transparency and is often preferred for corporate finance, while USDT offers deep global liquidity, making it a staple for trading ecosystems.